Blueknight Energy Partners LP (BKEP) Given Average Rating of “Hold” by Analysts

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Shares of Blueknight Energy Partners LP (NASDAQ:BKEP) have earned a consensus recommendation of “Hold” from the seven ratings firms that are currently covering the company, MarketBeat reports. Four analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $4.00.

A number of research firms recently weighed in on BKEP. Zacks Investment Research raised Blueknight Energy Partners from a “strong sell” rating to a “hold” rating in a research report on Tuesday. Stephens set a $4.00 target price on Blueknight Energy Partners and gave the stock a “buy” rating in a research report on Tuesday, August 7th. Finally, SunTrust Banks set a $3.00 price objective on Blueknight Energy Partners and gave the company a “buy” rating in a report on Sunday, August 5th.

BKEP stock traded up $0.01 during trading on Friday, reaching $2.12. 2,000 shares of the stock were exchanged, compared to its average volume of 236,228. Blueknight Energy Partners has a twelve month low of $2.09 and a twelve month high of $5.90. The company has a market cap of $74.46 million, a PE ratio of -23.56 and a beta of 0.69. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of -1.31.

Blueknight Energy Partners (NASDAQ:BKEP) last released its earnings results on Wednesday, August 1st. The pipeline company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.03). Blueknight Energy Partners had a negative return on equity of 4.82% and a net margin of 4.51%. The firm had revenue of $83.49 million for the quarter, compared to analyst estimates of $44.86 million. On average, equities research analysts anticipate that Blueknight Energy Partners will post -0.2 EPS for the current year.

In related news, CEO Mark A. Hurley acquired 20,394 shares of the firm’s stock in a transaction on Friday, September 14th. The shares were bought at an average cost of $2.45 per share, with a total value of $49,965.30. Following the completion of the acquisition, the chief executive officer now owns 453,066 shares of the company’s stock, valued at $1,110,011.70. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.70% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. OppenheimerFunds Inc. boosted its holdings in shares of Blueknight Energy Partners by 4.9% in the 2nd quarter. OppenheimerFunds Inc. now owns 2,171,111 shares of the pipeline company’s stock worth $7,382,000 after acquiring an additional 102,257 shares in the last quarter. Prescott Group Capital Management L.L.C. boosted its holdings in shares of Blueknight Energy Partners by 33.5% in the 2nd quarter. Prescott Group Capital Management L.L.C. now owns 1,028,150 shares of the pipeline company’s stock worth $3,496,000 after acquiring an additional 257,963 shares in the last quarter. Zazove Associates LLC acquired a new position in shares of Blueknight Energy Partners in the 2nd quarter worth approximately $1,145,000. Finally, Summit Trail Advisors LLC boosted its holdings in shares of Blueknight Energy Partners by 285.0% in the 1st quarter. Summit Trail Advisors LLC now owns 116,983 shares of the pipeline company’s stock worth $117,000 after acquiring an additional 86,599 shares in the last quarter. 47.14% of the stock is currently owned by institutional investors and hedge funds.

Blueknight Energy Partners Company Profile

Blueknight Energy Partners, L.P. provides integrated terminalling, gathering, and transportation services for companies engaged in the production, distribution, and marketing of liquid asphalt and crude oil products in the United States. The company's Asphalt Terminalling Services segment offers asphalt terminalling services, including storage, blending, processing, and throughput services for asphalt product and residual fuel oil.

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